All of the following statements about trusts are true except
A. The income distributed to the beneficiary retains the same character as that earned by the trust.
B. The net distributable income of a simple trust excludes capital gains distributions that are allocable to corpus under the terms of the governing instrument and applicable local law.
C. The income distribution deduction is the greater of distributable net income or net accounting income.
D. All of the taxable income that is not taxed to the beneficiaries is taxed to the trust.
Answer: C. The income distribution deduction is the greater of distributable net income or net accounting income.
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A) noise B) static C) feedback D) response E) decoding
Under RULPA, two or more persons must execute and sign a certificate of limited partnership
Indicate whether the statement is true or false